(Dallas, TX – March 25, 2019) The Dallas office of Duke Realty (NYSE:DRE), the leading domestic-focused logistics property REIT (Real Estate Investment Trust) in the country, announces that it has a signed a lease with Cherryman Industries, a designer, manufacturer and distributor of sustainable office furniture, for Grand Lakes 4053 in Grand Prairie. This 189,200-square-foot, state-of-the-art warehouse located at 4053 Grand Lakes Parkway is located in the Great Southwest industrial submarket, which led the DFW industrial market in total absorption during 2018.
“We are excited to welcome Cherryman Industries to Grand Lakes 4053, the newest building in our Grand Lakes industrial park,” said Jeff Thornton, Duke Realty’s Regional Senior Vice President. “Grand Lakes continues to be a preferred location for companies looking for quality industrial space in a highly accessible site. Its location fronting I-30 between Dallas and Fort Worth provides last mile access to a large portion of DFW’s population of 7.3 million people and is ideal as a central hub for regional distribution networks.”
Grand Lakes 4053 is a front-load building featuring 32′ clear height, 44 – 9′ x 10′ dock doors, 2 – 12′ x 14′ drive-in doors, 56′ x 50′ column spacing and a 185′ truck court. Surrounding the front-load building are 112 automobile parking spaces and 44 trailer spaces.
In addition to Grand Lakes 4053, Duke Realty developed and owns Grand Lakes 3953, a 1,060,075-square-foot building that is 100 percent leased to Ferrara Candy Company, and Grand Lakes 4003, a recently expanded 1,037,862-square-foot building, that is 100 percent leased to Continental Tire Company, APL Logistics and Keystone Automotive Industries. All of Duke Realty’s Grand Lakes buildings are highly visible from I-30 and located in a State of Texas Enterprise Zone with Triple Freeport inventory tax exempt status.
Krista Raymond and Dave Anderson with CBRE represented Cherryman Industries on the lease, while Randy Wood, Vice President of Leasing, represented Duke Realty
Parties interested in leasing and development opportunities in the Dallas/Ft. Worth area are invited to contact Duke Realty at 972.361.6700.
About Duke Realty
In the Dallas-Fort Worth area, Duke Realty owns, manages, or has under development more than 16.5 million square feet of industrial properties and has strategic land positions available for 1.0 million square feet of future development. Duke Realty’s local offices are located at 14241 N. Dallas Parkway, Suite 1000.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 153 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.